Wipro adopts Blockchain in energy sector joins Energy Web Foundation

In order to bring Blockchain technology to India’s growing energy sector, Wipro Limited has joined as an affiliate of the Energy Web Foundation (EWF), a global non-profit organization focused on accelerating the adoption of Blockchain technology in the energy sector.

The leading global information technology, consulting, and business process services company will a one of the 50 member of EWF which is building and scaling the Energy Web Chain, the first public, open-space Blockchain platform tailor-made for the energy sector.

Speaking on this, the company’ Senior Vice President and Head of Digital for Energy, Resources & Utilities business Subbi Lakshmanan said that joining the EWF consortia reflects Wipro’s belief that Blockchain and allied technologies such as internet of things (IoT), Analytics and AI will play a central role in helping the industry embrace the path-breaking move towards a new energy economy, enabled by distributed energy resources.

Wipro can now leverage EWF’s R&D investments in Blockchain technology and thereby, gain early access to the overall energy Blockchain system, deepen use case research and development, get access to a managed ecosystem of application developers, and utilize EWF’s educational material (regulators and standards) to accelerate Blockchain adoption in the energy sector.

“At Wipro, Blockchain is a strategic theme with focus on driving transformation at enterprise / industry level by creating new markets, re-distributing existing markets and streamlining business processes. We are working with global customers to drive Blockchain adoption across the globe and help clients build production-grade Blockchain networks, creating business value,” Wipro Limited’s Vice President – Service Transformation and Blockchain Theme Leader Krishnakumar N Menon said.

EWF’s charter is to identify, document and assess the most promising use cases of Blockchain technology in the energy sector and provide functionalities needed to implement these use cases at scale.

“Digitalization is one of the mega-trends driving the electricity grid’s transformation and re-making how utilities, grid operators, and others interact with this enormously complex system. Wipro’s core information technology and consulting expertise will be an asset to the EWF ecosystem,” Morris stressed.

The Energy Web Chain is positioned to become the market standard that ensures interoperability, reduces costs and complexity, aligns currently dispersed Blockchain initiatives, and facilitates technology deployment through easy-to-implement solutions.